Gelonghui on September 19th, Huarong Financial Holdings (00993.HK) announced that Zhongju (Shenzhen), the company's indirect wholly-owned subsidiary, issued a listing announcement on the website of Guangdong Financial assets Trading Center on September 19, 2022, starting a formal process to transfer target claims through online bidding. The reserve price for potential transfers is about 143589494 yuan.The target creditor's rights include the debt owed by Pingshan Lake, the debt owed by Lhasa Vanguard Power Company and the debt owed by Lihua Energy.

The company is a Chinese state-controlled financial assets management listed company. According to applicable Chinese laws and regulations, the transfer of target creditor's rights by CJU (Shenzhen) constitutes the sale of state-owned assets and needs to be carried out publicly in Guangdong Financial assets Trading Center. According to the rules of the Guangdong Financial assets Trading Center, after the identity of the final assignee is determined, Zhongju (Shenzhen) will enter into an agreement with the ultimate assignee on the assignment of the target creditor's rights.